Mahindra & Mahindra to invest in high-end electric powertrain technology

Mumbai-based Mahindra & Mahindra, the sole Indian manufacturer of electric cars in India, has announced plans to invest directly or through its subsidiaries in “high-end electric powertrain technology as part of its plan for the future of mobility, and electrification of some of its existing and future products.”

The investments will also be utilised towards increasing manufacturing capacity for electric powertrains and electric vehicles. In a notification to the National Stock Exchange (NSE) today, the company said that the high-end electric powertrains will be used for the group’s future line-up of electric vehicles.

M&M’s statement says, “As the pioneers of electric vehicles in the country, the Group is committed towards making electric vehicles more accessible in order to build a clean and green tomorrow.” Dr Pawan Goenka, managing director, M&M, is expected to reveal the company’s electric vehicle roadmap and future mobility plan on Wednesday, May 24.

Mahindra Electric, the electric mobility arm of M&M, currenty has three EVs: the e20 hatchback, the eVerito sedan and the eSupro commercial van and passenger carrier.

Plugging into an all-EV future?
Given the government’s sharpened focus on the EV sector, M&M, which is the best-placed Indian OEM to drive gains from an EV-driven future in India, M&M seems to be rejigging its passenger vehicle focus. On May 12, Niti Aayog, the government’s premier policy think-tank, announced its draft policy to have an all-electric vehicle fleet in the country by 2032. This step is estimated to save 64 percent energy demands in the mobility-related space and would help bring down carbon emissions to the tune of 37 percent and savings of an estimated expenditure of Rs 3.9 lakh crore ($60 billion).

EV synergies with SsangYong
M&M could also benefit from its synergies with its SsangYong Motor subsidiary. An aspect of its collaboration with SsangYong includes the development of a powerful electric powertrain.

Mahindra Electric is currently working on a more powerful 380V system for larger vehicles, including SUVs and even a performance vehicle. At present, Mahindra Electric has two systems – a 48V one and a 72V – currently doing duty in its vehicles.

Although nothing is final, it is likely Mahindra and SsangYong could jointly use the powerful electric powertrain for a common or an independent product.